Volume 2 Issue 32

Shell Selling Tongyi to Carlyle & Huos

Shell has agreed to sell its 75 percent stake in Tongyi Lubricants to United States-based equity firm The Carlyle Group and Tongyis founder and joint venture partner, Huos Group.

Tide Water Plans Global Growth

Indias Tide Water Oil Co. is gearing up to enter South African and Sudanese markets, license sales of its products in Bangladesh, and to relaunch its Veedol brand in the Americas through a new subsidiary.

Malaysia's Emery Bullish on Biolubes

Malaysias Emery Oleochemicals plans to expand its biolubricant business globally with partnerships, acquisitions and expansion of existing sites in Malaysia and Germany, the company told Lube Report Asia.

Profits Down at MJL, Up at GP Petroleums

Cost increases at MJL Bangladesh Ltd. caused a 36 percent drop in profits for the first half of 2015 despite higher sales, while Indias GP Petroleums raised its second quarter profit thanks to cheaper raw materials.

Briefly Noted

Global demand for maleic anhydride was valued at U.S. $2.8 billion in 2013 and is expected to increase at a compound annual rate of 7.2 percent through 2019, according to a study by Dublin, Ireland-based Research and Markets. Demand for polyester resins and 1,4-butanediol – as opposed to lubricant additives – is expected to grow particularly rapidly. Indian grease and lubricant producer Balmer Lawrie & Co. named Prabal Basu chairman and managing director, succeeding Viren Sinha Aug. 1. Basu previously was director of finance.